Argentina is considered to be the 45th largest export economy in the world which exports $59.2 billion goods and services throughout the world. The GDP in the year 2017 was $637 billion. As per the world import data the country imported goods and services of $66.5 billion in the year 2017.
The top exports of the country include Soya bean meal, corn, oil, delivery trucks and soya beans. The top imports are cars, telephones, vehicle parts and refined petroleum. The major export destinations include Brazil, USA, China and Vietnam. The major import destinations include China, USA, Germany and Mexico. Soya bean meal represents 15.4% of the total exports which is followed by corn and accounts for 6.84%. The country is considered to be the 42nd largest importer in the world and the imports have decreased from the past few years at an annual rate of -0.2%. The cars represent 9.5% of total imports which is followed by vehicle parts that account for 4.2%.
In the year 2017 Argentina had a negative trade balance which means that there was a negative trade balance of $7.25 billion in the net imports in case it is compared with the balance of 1995. Brazil contributes 16% to the total imports followed by China which is 7.4% and Vietnam which is 3.8%. The major import nation includes Brazil which is 27% followed by China which is 19%. The economy of Argentina has economic complexity index of 0.232 which makes it 50th most complex country in the world. The country exports 177 products that have revealed its competitive advantage.
Following are the top 10 exports of the country:
Number one: food industry waste and animal fodder which is 16% of total exports
Number two: cereals which are 12.2% of total exports.
Number three: Vehicles $7.38 billion which is 12%
Number four: Animal and vegetable fats which is 6.4%
Number five: mineral fuels which is 4.8%
Number six: meet which is 4.1%
Number seven: Gems and other precious materials which is 4.1%
Number eight: fish which represents 3.4% of total exports
Number nine: oilseeds which is 2.9% of total exports
Number ten: other chemical goods which is 2.7%
According to the world import export data following are the top 10 imports of the nation:
Number one: vehicles which represent 19.8% of total imports
Number two: machinery which includes computers and represent 14.9%
Number three: electrical machinery and equipment which we present 12.9%
Number four: The mineral fuels which represent 8.2%
Number five: plastic and plastic articles that we present 3.6%
Number six: the pharmaceuticals which represent 3.6%
Number seven: the organic chemicals that we present 3.5% of total imports
Number one: technical, optical and medical apparatus which represents 2.7% of total imports
Number nine: chemical goods that represent 2.2% of total imports
Number ten: The iron and steel that represents 1.9% of total imports.
The trade balance rank of Argentina’s 707 out of 119 and the trade balance is 3,882,608,745 dollars as of the year 2018.